retaliatory attack suggest there's room for dean escalation. tesla's plant new gigafactory outside villain is already making waves germany's legacy economic is now also one of the piece of the new economic class that. outside of this is business asia on the wu update on the asian and global business news. carlos drone has made an explosive 1st public appearance since fleeing japan where he was awaiting trial on corruption charges more than a week after his dramatic escape from japanese justice the former chairman of nisson told journalists in beirut that allegations of financial misconduct against him were untrue and that he should never have been imprisoned he called his treatment a travesty against his human rights cues prosecutors of trying to force a confession threatening to go after his family to let's listen in here's what he had to say earlier i was presumed guilty before the eyes of the world and subject

to a system whose only objective is to course confessions security please without regard to the truth. i have come to learn that my unimaginable ordeal over the past 14 months is the result of a handful of unscrupulous vindictive individuals at nissan. and walk ins law firm with over the tokyo prosecutor office let's go straight to buy. a really from a by route studio is standing by will you watch that press conference what impression did you get from callers going that. in fact i'm at the press syndicate where the press conference taking place right next to me on my left the press conference taking place right now so it's all the years. it's.

like no hugging this press conference it's just right now. obvious that you want to say that although his own story and according to my sources from. me but he's also he's. but he's also that if they told me that could be true. that one of the major amendments to your speech so i'm going to do that they want it to fit in this press conference even though yesterday the. japanese ambassador another and the did not use president and they discussed this issue with the presence of the head of the general. general security general. so they made it clear yesterday according to our sources that they made it clear for the japanese ambassador that the write off mr wilson was completely new get

through by his ranch. and given his id and according to the security system that is completely clean that it's nothing to be. able to do any kind of legal actions against citizens that's why he's having this press conference right now in the next room. going has said in that press conference earlier that it's all a conspiracy conspiracy by japanese prosecutors aided by vindictive pettiness and stuff did he offer any proof of that. yeah we were the moment i next the press conference you did but lots of us that gets a big screen. right. you gonna show some graphics or some points and from maybe some documents through this press conference. from the studio in beirut on this developing story thank you very much purcell

thank you turning to our other top story oil prices briefly spiked in response to iran's retaliatory attack to you on u.s. forces in iraq they settled later in the morning but remained up from tuesday's levels the price of gold the swiss franc and the japanese yen also rose on the news as investors soar safehaven and made the growing tension in the middle east reports of the attacks and speculation about possible u.s. responses also sent shares across asia down in early trading this president will trump is expected to give a statement about the attacks later on wednesday. the escalating conflict between iran and the u.s. also has all producing nations worried theoretically iran could put a dent in the region's exports by closing the strait of hormuz for example 20 percent of the world's oil supply is being shipped through that waterway because it's unclear father 2 sides could go uncertainty is widespread.

the united arab emirates is keen to assuage fee is oil supplies said the country's energy minister i'm not under threat. that is. what is happening in the. us see. the strait of hormuz is a waterway between iran and the u.a.e. iran uses it to transport oil as do many others saudi arabia the united arab emirates kuwait iraq and qatar in fact around 20 percent of the world's oil moves through this straits which aim places is no more than 4 kilometers wide iran regularly threatens to obstruct the channel several oil tankers were attacked last year with iran suspected of being responsible then in september saudi arabia's

largest refinery went up in flames again all eyes fell on iran it rejected the accusations but tensions are clearly heightening. the united states. which is a neighbor well when we. are on is a neighbor we are already close to we are. the last. middle east the us is unlikely to have many concerns about oil supplies in 2018 president donald trump announced that thanks to fracking the united states was no longer dependent on oil imports from the middle east. story from our financial correspondent. about how seriously our markets taking this retaliatory attack by

iran today. the market reaction of the has been pretty counter-intuitive i'd say the initial response was a little bit of panic global stock markets sold off and then oil spiked but that's really been completely reversed throughout the european trading day global stocks are up now and oil has declined so i think investors were really worried there's a lot of anxiety that iran's response which they've been pledging to retaliate against friday's attack would sort of set off this tit for tat. retaliate retaliatory chain of events but since the news was announced both the u.s. and iran have sort of indicated that they. don't want to see this as further donald trump has tweeted overnight that all is well that there that they haven't seen a loss of u.s. life in the attack and iran has said that they. think that this concludes their

attack so there's hope that this is really the end for for this event and we will see how the u.s. perspective changes or if it changes in the drums statements later today but i do get the sense that investors are keen to get past these tensions or are there more fundamental concerns of. the market the u.s. and china are about a week from signing a trade deal and economies are quite well so i think about cers are really keen to buy the dip here. to do any in frankfurt thank you. now to some of the other global business stories making headlines today the russian and turkish president said to open the extreme natural gas pipeline will transport natural gas from russia cross the black sea to turkey a 2nd section due to open in the future will supply southern europe germany entered the other world's 2 biggest consumers of russian natural gas. a group of barclays shareholders have filed quality they're calling the 1st climate change resolution

out of european bank they want the ban to stop financing energy firms that do not comply with the 2015 paris agreements climate's goals barclay's is the fossil fuel industries number one financial support group. more than 200 institutional investors are seeking nearly 1000000000 euros in damages from germany's dial up to the verse 8 is make a fail to disclose its vehicles had been fitted with software to cheat on emissions testing its share price tumbled after the scandal came to light in 2050. thousands of new jobs and a big image boost for the region it's still early days but tesla's planned factory outside the germany's capitals berlin looks to be a big win for concerned it's also solidifies tesla's position as a campania turned major producer which is now rolling into the land of the inventor of the automobile. this is still home to rabbits and hedgehogs but after electric

vehicle pioneer tesla announced it would build a massive production facility in the state of brandenburg next to berlin other major carmakers have also expressed interest in the region. the brandenberg economy minister believes the area could soon become a cluster for the electric vehicle sector attracting suppliers as well as skilled labor. we are already seeing a stablish german manufacturers opening up to new technologies asking whether there are opportunities for them here they're asking one of the requirements what made you interesting to tesla there is a knock on effect. tesla is aiming to produce half a 1000000 model 3 and y. vehicles annually at the brandenburg factory that would be equal to the planned output of its just completed facility in shanghai dubbed the factory 3 that was

hoping to begin construction on the berlin suburb of green hide of by march but that's unlikely because it's still waiting for a permit just before christmas tesla reached a deal with the state of brandenburg to purchase the plot of land for the new plant . that's it from even w. news is next right after this quick market a. law .

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this is. a line from but in iran you're a missile attack on the u.s. bases in iraq it says. the strikes on retaliate to be assassination of for top iranian children. iran claims that americans were killed in the attacks president. orders bet. more than 170 people are dead after a ukrainian passenger plane crashes. all passengers and crew aboard the plane were killed when it went.